HomeStreet (NASDAQ:HMST) Issues Quarterly Earnings Results

HomeStreet (NASDAQ:HMST) issued its earnings results on Monday. The financial services provider reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.05), Zacks reports. HomeStreet had a negative net margin of 5.44% and a negative return on equity of 3.40%.

HomeStreet Trading Up 2.6 %

HomeStreet stock opened at $10.43 on Tuesday. The company has a debt-to-equity ratio of 3.94, a current ratio of 1.15 and a quick ratio of 1.15. HomeStreet has a 12 month low of $8.09 and a 12 month high of $16.10. The stock has a fifty day simple moving average of $11.06 and a two-hundred day simple moving average of $13.02.

Wall Street Analysts Forecast Growth

HMST has been the topic of several research analyst reports. Janney Montgomery Scott cut HomeStreet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Wedbush lifted their price objective on HomeStreet from $12.00 to $15.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th.

Insider Activity

In other HomeStreet news, CFO John Michel sold 8,000 shares of HomeStreet stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $11.26, for a total value of $90,080.00. Following the completion of the sale, the chief financial officer now owns 28,409 shares of the company’s stock, valued at approximately $319,885.34. The trade was a 21.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sidney Craig Tompkins purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average price of $11.49 per share, for a total transaction of $57,450.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at approximately $57,450. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 17,846 shares of company stock valued at $203,697 over the last ninety days. 4.60% of the stock is currently owned by corporate insiders.

HomeStreet Company Profile

HomeStreet, Inc operates as the bank holding company for HomeStreet Bank that provides commercial, mortgage, and consumer/retail banking services in the Western United States. The company offers personal and business checking, savings, interest-bearing negotiable order of withdrawal, and money market accounts, as well as certificates of deposit; credit cards; insurance; and treasury management services.